KEY ECONOMIC INDICATORS

2014 2015 2016 2017 2018 2019 2020 (a)

DEMOGRAPHY
Mid-year population (‘000 persons) (b)(c) 20,778 20,970 21,203 (a) 21,444 (a) 21,670 (a) 21,803 (a) 21,919
Growth of mid-year population (per cent) (b) 0.9 0.9 1.1 (a) 1.1 (a) 1.1 (a) 0.6 (a) 0.5
Population density (persons per sq.km.) (b) 331 334 338 342 346 348 350
Labour force (‘000 persons) (d)(e) 8,049 8,214 8,311 8,567 8,388 8,592 8,467 (f)
Labour force participation rate (per cent) (d)(e) 53.2 53.8 53.8 54.1 51.8 52.3 50.6 (f)
Unemployment rate (per cent of labour force) (d)(e) 4.3 4.7 4.4 4.2 4.4 4.8 5.5 (f)
OUTPUT (g)
GDP at current market price (Rs. billion) 10,361 10,951 11,996 13,328 14,291 (h) 15,013 (a)(h) 14,973
GNI at current market price (Rs. billion) 10,125 10,676 11,676 12,975 13,901 (h) 14,581 (a)(h) 14,568
GDP at current market price (US$ billion) 79.4 80.6 82.4 87.4 87.9 (h) 84.0 (a)(h) 80.7
GNI at current market price (US$ billion) 77.6 78.5 80.2 85.1 85.5 (h) 81.6 (a)(h) 78.5
Per capita GDP at current market price (Rs.) (i) 498,660 522,204 565,773 621,531 659,479 (h) 688,573 (a)(h) 683,106
Per capita GNI at current market price (Rs.) (i) 487,298 509,103 550,697 605,076 641,500 (h) 668,748 (a)(h) 664,620
Per capita GDP at current market price (US$) (i) 3,819 3,841 3,886 4,077 4,057 (h) 3,852 (a)(h) 3,682
Per capita GNI at current market price (US$) (i) 3,732 3,745 3,782 3,969 3,947 (h) 3,741 (a)(h) 3,582
REAL OUTPUT (percentage change) (g)
GDP 5.0 5.0 4.5 3.6 3.3 (h) 2.3 (a)(h) -3.6
Major economic activities of GDP
Agriculture 4.6 4.7 -3.7 -0.4 5.8 (h) 1.0 (a)(h) -2.4
Industry 4.7 2.2 5.7 4.7 1.3 (h) 2.6 (a)(h) -6.9
Services 4.8 6.0 4.8 3.6 4.6 (h) 2.2 (a)(h) -1.5
GNI 5.1 4.8 4.3 3.6 3.2 (h) 2.1 (a)(h) -5.0
AGGREGATE DEMAND AND SAVINGS (per cent of GDP) (g)
Consumption 75.8 76.4 79.4 75.6 77.6 (h) 79.3 (a)(h) 81.1
Private 67.4 67.4 71.0 67.1 68.4 (h) 69.8 (a)(h) 70.7
Government 8.4 9.0 8.5 8.5 9.2 (h) 9.4 (a)(h) 10.4
Investment 32.3 31.2 27.9 31.6 29.9 (h) 26.8 (a)(h) 25.2
Net exports of goods and services -8.1 -7.5 -7.3 -7.2 -7.4 (h) -6.1 (a)(h) -6.4
Exports of goods and services 21.1 21.0 21.2 21.8 23.0 (h) 23.1 (a)(h) 16.6
Imports of goods and services 29.2 28.5 28.5 29.1 30.5 (h) 29.3 (a)(h) 22.9
Domestic savings 24.2 23.6 20.6 24.4 22.4 (h) 20.7 (a)(h) 18.9
Net primary and secondary income from rest of the world 5.6 5.2 5.2 4.6 4.3 (h) 4.0 (a)(h) 5.0
National savings 29.8 28.8 25.7 29.0 26.7 (h) 24.7 (a)(h) 23.9
PRICES AND WAGES (percentage change)
National Consumer Price Index (2013 = 100) - annual average - 3.8 4.0 7.7 2.1 3.5 6.2
National Consumer Price Index (2013 = 100) - year-on-year (end period) - 4.2 4.2 7.3 0.4 6.2 4.6
Colombo Consumer Price Index (2013 = 100) - annual average - 2.2 4.0 6.6 4.3 4.3 4.6
Colombo Consumer Price Index (2013 = 100) - year-on-year (end period) - 4.6 4.5 7.1 2.8 4.8 4.2
Colombo Consumer Price Index (2006/07 = 100) - annual average (j) 3.3 0.9 3.7 - - - -
Colombo Consumer Price Index (2006/07 = 100) - year-on-year (end period) (j) 2.1 2.8 4.1 - - - -
Producer's Price Index (2013 Q4 = 100) - annual average - 3.6 1.7 17.0 6.3 2.9 5.8
GDP deflator (g) 2.9 0.6 4.8 7.3 3.8 (h) 2.7 (a)(h) 3.4
GNI deflator (g) 2.9 0.6 4.9 7.3 3.8 (h) 2.7 (a)(h) 5.1
Nominal wage rate index for workers in all wages boards (1978 Dec =100) 3.7 2.9 0.0 0.0 0.6 2.9 0.2
Nominal wage rate index for public sector employees (2016 =100) - - - - 0.2 4.7 9.2
Nominal wage rate index for public sector employees (2012 =100) 10.5 31.7 3.9 0.0 0.1 3.2 -
Nominal wage rate index for informal private sector employees (2012 =100) 7.6 7.3 7.9 9.5 13.2 6.2 3.3
EXTERNAL TRADE
Trade balance (US$ million) -8,287 -8,388 -8,873 -9,619 -10,343 -7,997 -6,008
Exports 11,130 10,546 10,310 11,360 11,890 11,940 10,047
Imports 19,417 18,935 19,183 20,980 22,233 19,937 16,055
Terms of trade (percentage change) 4.3 2.7 4.0 1.2 0.02 -1.6 2.5
Export unit value index (2010 = 100) (percentage change) 2.7 -9.4 -1.5 2.4 4.2 -6.3 -6.8
Import unit value index (2010 = 100) (percentage change) -1.5 -11.8 -5.3 1.2 4.1 -4.8 -9.1
Export volume index (2010 = 100) (percentage change) 4.3 4.6 -0.7 7.6 0.5 7.2 -9.7
Import volume index (2010 = 100) (percentage change) 9.5 10.6 7.0 8.1 1.8 -5.8 -11.4
EXTERNAL FINANCE (US$ million)
Services and primary income account (net) 72 312 678 984 1,381 388 (h) -1,282
Current private transfers (net) 6,199 6,167 6,434 6,316 6,155 5,757 6,194
Current official transfers (net) 28 27 19 11 8 9 13
Current account balance -1,988 -1,883 -1,742 -2,309 -2,799 -1,843 (h) -1,083
Overall balance 1,369 -1,489 -500 2,068 -1,103 377 -2,328
(a) Provisional (f) Average of four quarters of 2020
(b) As reported by Registrar General’s Department (g) Rebased GDP estimates (base year 2010) of the Department of Census and
(c) Based on the Census of Population and Housing - 2012 Statistics have been used.
(d) Household population aged 15 and above is considered for the calculation of (h) Revised
labour force. (i) Estimates are updated with the latest population figures
(e) In July 2016, the Department of Census and Statistics published a re-weighted (j) Compilation of this index was discontinued since January 2017.
and revised labour force data series for 2011 onwards.
 KEY ECONOMIC INDICATORS (Contd.)

2014 2015 2016 2017 2018 2019 2020 (a)

Current account balance (per cent of GDP) (g)(k) -2.5 -2.3 -2.1 -2.6 -3.2 -2.2 -1.3
Total foreign assets (months of the same year imports) (l) 6.1 5.9 5.3 6.0 5.2 6.3 6.4
Gross official reserves (months of the same year imports) 5.1 4.6 3.8 4.6 3.7 4.6 4.2
Overall debt service ratio (m)
As a percentage of export of goods and services 21.7 28.2 25.6 23.9 28.9 29.7 33.5
As a percentage of current receipts 15.2 19.8 18.0 17.3 21.3 21.8(h) 21.5
Total external debt (per cent of GDP) (g)(k) 54.1 55.7 56.8 59.0 59.5 (h) 65.3(h) 60.9
EXCHANGE RATES
Annual average
Rs/US$ 130.56 135.94 145.60 152.46 162.54 178.78 185.52
Rs/SDR (n) 198.35 190.16 202.39 211.49 229.90 246.97 258.61
NEER (2017 = 100) (24 - currency basket) (o) 105.29 109.46 104.91 100.00 94.05 88.17 85.93
REER (2017 = 100) (24 - currency basket) (o)(p) 98.92 103.01 100.55 100.00 95.45 90.42 91.36
Year end
Rs/US$ 131.05 144.06 149.80 152.85 182.75 181.63 186.41
Rs/SDR (n) 189.86 199.63 201.38 217.69 253.51 251.17 268.48
GOVERNMENT FINANCE (per cent of GDP) (g)(q)(r)
Revenue and grants 11.6 13.3 14.1 13.8 13.5 12.6 9.2
Revenue 11.5 13.3 14.1 13.7 13.4 12.6 9.1
o/w Tax revenue 10.1 12.4 12.2 12.5 12.0 11.6 8.1
Grants 0.1 0.1 0.1 0.1 0.1 0.1 0.04
Expenditure and net lending 17.3 20.9 19.5 19.3 18.8 22.2 20.3
Recurrent expenditure 12.8 15.5 14.7 14.5 14.6 16.1 17.0
Capital expenditure and net lending 4.6 5.4 4.8 4.8 4.2 6.1 3.3
Current account balance -1.2 -2.3 -0.6 -0.7 -1.2 -3.6 -7.9
Primary balance -1.5 -2.9 -0.2 0.02 0.6 -3.6 -4.6
Overall fiscal balance -5.7 -7.6 -5.3 -5.5 -5.3 -9.6 -11.1
Deficit financing 5.7 7.6 5.3 5.5 5.3 9.6 11.1
Foreign 2.1 2.2 3.3 3.3 2.3 3.6 -0.6
Domestic 3.7 5.4 2.1 2.2 3.1 6.0 11.7
Central government debt (s) 72.3 78.5 79.0 77.9 84.2 86.8 101.0
Foreign 30.0 32.4 33.7 35.4 41.7 41.3 40.4
Domestic (t) 42.2 46.2 45.3 42.5 42.5 45.5 60.6
MONETARY AGGREGATES (year-on-year percentage change)
Reserve money 18.3 16.5 27.1 9.8 2.3 -3.0 3.4
Narrow money (M1) 26.3 16.8 8.6 2.1 4.7 4.2 36.0
Broad money (M2b) (u) 13.4 17.8 18.4 16.7 13.0 7.0 23.4
Net foreign assets of the banking system 119.8 -2,071.2 22.4 152.6 -155.1 250.3 (h) -308.0
Net domestic assets of the banking system 10.5 26.0 15.9 9.8 16.3 4.6 (h) 27.8
Domestic credit from the banking system to
Government (net) 10.3 22.5 12.1 10.0 16.1 11.1 (h) 62.7
Public corporations 23.5 17.7 -3.2 4.5 40.7 8.3 22.5
Private sector 8.6 25.0 21.6 14.7 15.9 4.2 (h) 6.5
Money multiplier for M2b (end year) 6.71 6.78 6.31 6.71 7.42 8.18 9.75
Velocity of M2b (average for the year) (g) 2.85 2.62 2.43 2.26 2.11 (h) 2.04 1.76
INTEREST RATES (per cent per annum at year end)
Standing Deposit Facility Rate (SDFR) (v) 6.50 6.00 7.00 7.25 8.00 7.00 4.50
Standing Lending Facility Rate (SLFR) (v) 8.00 7.50 8.50 8.75 9.00 8.00 5.50
Bank Rate (w) 15.00 15.00 15.00 15.00 15.00 15.00 8.50
Legal Rate of Interest / Market Rate of Interest (x) 10.34 7.76 5.98 7.06 9.08 11.50 11.64
Money market rates
Average weighted call money rate (AWCMR) 6.21 6.40 8.42 8.15 8.95 7.45 4.55
Treasury bill yields
91-day 5.74 6.45 8.72 7.69 10.01 7.51 4.69
364-day 6.01 7.30 10.17 8.90 11.20 8.45 5.05
Deposit rates
Commercial banks’ average weighted deposit rate (AWDR) 6.20 6.20 8.17 9.07 8.81 8.20 5.80
Commercial banks’ average weighted fixed deposit rate (AWFDR) 7.33 7.57 10.46 11.48 10.85 10.05 7.14
Commercial banks’ average weighted new deposit rate (AWNDR) 5.45 6.96 11.17 10.06 10.94 8.89 4.93
Commercial banks’ average weighted new fixed deposit rate (AWNFDR) 5.58 7.13 11.44 10.65 11.27 9.17 5.08
NSB savings rate 5.00 5.00 4.25 4.00 4.00 4.00 3.50
NSB 12 month fixed deposit rate 6.50 7.25 11.00 11.00 10.50 9.83 5.25
Lending rates
Commercial banks’ average weighted prime lending rate (AWPR)-Weekly 6.26 7.53 11.52 11.55 12.09 9.74 5.81
Commercial banks’ average weighted lending rate (AWLR) 11.91 11.00 13.20 13.88 14.40 13.59 10.29
Commercial banks’ average weighted new lending rate (AWNLR) 10.26 10.19 13.94 14.31 14.54 12.80 8.38
CAPITAL MARKET
All share price index (ASPI) (1985 = 100) 7,299.0 6,894.5 6,228.3 6,369.3 6,052.4 6,129.2 6,774.2
S&P SL 20 index (2004 Dec = 1,000) 4,089.1 3,625.7 3,496.4 3,671.7 3,135.2 2,937.0 2,638.1
Value of shares traded (Rs. million) 340,917 253,251 176,935 220,591 200,069 171,408 396,882
Net purchases by non nationals (Rs. million) 21,217 -5,372 338 17,655 -23,239 -11,735 -51,356
Market capitalisation (Rs. billion) 3,104.9 2,938.0 2,745.4 2,899.3 2,839.5 2,851.3 2,960.7
(k) Based on GDP estimates in US dollars (t) Outstanding balance of Treasury bonds issued to State Owned Business Enterprises
(l) Excludes foreign assets in the form of direct investments abroad and trade credit and (SOBEs) has been included.
advances received (u) Values from 2015 include assets/ liabilities of DFCC Bank PLC, which merged with DFCC
(m) Overall debt service ratios were reclassified to capture debt servicing in accordance with Vardhana Bank, with effect from 1 October 2015.
the External Debt Statistics Manual (2003) of the International Monetary Fund (IMF). (v) Repurchase rate and Reverse Repurchase rate renamed as Standing Deposit Facility Rate
(n) Special Drawing Rights (SDR), the unit of account of the IMF (SDFR) and Standing Lending Facility Rate (SLFR), respectively, with effect from 2 January
(o) Exchange rates have been defined in terms of indices so that the appreciation/ 2014.
depreciation of the rupee relative to other currencies is reflected by a rise/fall in the
values of the effective exchange rate indices. (w) The rate at which the Central Bank grants advances to banking institutions as the lender of
(p) CCPI is used for the computation of the Real Effective Exchange Rate (REER). The REER last resort.
is computed by adjusting the Nominal Effective Exchange Rate (NEER) for inflation (x) The Legal rate is defined under the Civil Procedure Code (Amendment) Act No. 6 of 1990
differentials with the countries whose currencies are included in the basket. and is applicable to any legal action for the recovery of a sum of money. The Market
(q) Based on the revised GDP estimates for 2018 and 2019 released on 16 March 2021 rate is defined under the Debt Recovery (Special Provisions) Act No. 2 of 1990 and is
by the Department of Census and Statistics applicable only in relation to legal actions instituted by lending institutions for the recovery
(r) According to the Ministry of Finance, some fiscal sector statistics of 2019 have been of debt exceeding Rs. 150,000 arising out of commercial transactions, where there is no
restated as announced in the Budget Speech for 2020 agreed rate of interest. The Monetary Board of the Central Bank determines the Legal rate
(s) As per the guidelines of compiling government debt statistics in the Manual of and Market rate for each year and publishes in the Government Gazette in the month of
Government Finance Statistics published by the IMF in 2014, non resident holdings December to be applicable for the forthcoming year. The Legal rate and the Market rate
of outstanding SLDBs have been classified under foreign debt and resident holdings of for the year 2021 is 10.12 per cent per annum.
outstanding ISBs of the Sri Lankan Government have been classified under domestic
debt from 2019 onwards.